Investors holding euro-denominated Argentine bonds, including billionaire George Soros, called on trustee Bank of New York Mellon yesterday (BONY) to turn over its duties to state-owned Banco Nación so they can get paid the 225 million euros currently frozen by United States District Judge Thomas Griesa’s orders.
German Chancellor Angela Merkel bluntly rejected Euro zone bonds as a solution to the currency area's sovereign debt crisis, saying that collectivizing debts would not solve the problem.
The leaders of France and Germany meeting in Paris unveiled wide-reaching plans for closer Euro zone integration, including deficit limits and biannual summits but said joint Euro bonds could only be a long-term option.